Changes to Insurance Regulations Impact South Florida Condo Unit Owners

Fla.Stat. §718.111 (2008), Effective January 1, 2009, Statutes require the minimum amount of loss assessment coverage carriers must provide has been increased from $1,000 to $2,000. Statutes require unit owners to provide proof of coverage for Building Property, Liability and Loss Assessment, naming The Association as Additional Named Insured,  it also requires all associations to record evidence of unit owner’s coverage and authorize associations to force place unit coverage when evidence is not provided by the unit owner.

 Click here to view The 2008 Florida Statutes

Click here to view Forced Placement Condo Unit Insurance Premium and Limits

Click here to view Standard HO6 Condo Unit Policy Specimen

If you own a condo anywhere in Florida, these changes will impact you. If you have questions about these changes please email us at:

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